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Exact(29)
After tax, corporate profits last year accounted for 10% of GDP, higher than ever recorded.
After all, debt is about 200 percent of GDP higher than it was before 1980.
Today it is one of the richest, with a per capita GDP higher than that of Denmark, from which it won full independence in 1944.
It predicted that its 2012 deficit will be 7.4% of GDP, higher than planned, and also admitted that last year's deficit was actually 9.44% (not 8.96%).
The local government tally takes China's total government debt to around 58% of GDP, higher than previously thought by many economists.
Backing for research and development would also be one of its aims with a target of reaching 3% of GDP – higher than the OECD's 2.4% average.
Similar(31)
By then it will be 8% of GDP, higher even than in the early 1990s and mid-1970s, when the public finances were similarly blighted.
Accordingly, government spending is an average 0.5% of GDP higher each year than projected by Hockey.
A young, educated, increasingly wealthy middle class is driving economic growth with GDP higher 2% p.a. than the global average.
By 1977 French gdp was 34% higher, and German gdp 61% higher than ours.Productivity (ie, output per person employed) was about the same in Britain, France and West Germany in 1954, with Britain marginally highest.
Jerven cites these discrepancies to argue that we cannot be certain whether one poor country's GDP is higher than another's, and that we should not use GDP alone to make judgments about which economic policies lead to growth.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com